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The yen rose from a one-year low against the dollar on Wednesday after threats of intervention from Japanese authorities, and the dollar was on the defensive after US data showed a slowing economy. The Bank of Japan had earlier loosened its yield curve control cap, disappointing investors.
Yen strength and a softer dollar tied to slowing US growth can support dollar-priced commodities, though the effect on feed markets is indirect. Lower expected US growth also weighs on demand expectations.
investing.comNov 1, 2023Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
